Therefore, we collected new empirical evidence on a sample of NTBFs and their founders, controlling for environmental, institutional, and organizational factors.
Almost 50% of the 133 NTBFs included in our sample are localized in Bologna, the regional capital and the biggest city of Emilia Romagna.
Such achievement was often associated with the NTBF attempt to enter foreign markets, or with the foreign firm's interest in the Portuguese one.
Despite the widespread recognition of the limitations of the Portuguese market, not every NTBF envisaged foreign market expansion, at least in the medium term.
Due to the lack of financial management competence measures, we developed an initial set of measures for this research to explore the relevance of the financial management competence domains for NTBF growth.
First, we controlled for the founding background of the NTBF. New firms that have parent organizations to support them can be expected to grow faster, as these parent organizations can supply them with resources such as social capital, human capital, and especially financial resources (Steffensen, Rogers, & Speakman, 2000).
While the evidence of the book as a whole might invite one, maybe two cheers for the NTBF, the collection leaves me with some more fundamental doubts.
Oakey's measured introduction contrasts the rhetorical promise originally held out for NTBFs, with the realities explored in the book.
By any definition, the creators of a successful NTBF
have to be exceptionally competent.
New technology-based firms (NTBFs
) are particularly vulnerable to shortages of adequate finance in their formative periods (Kay, 1992; Oakley, 1984).